Intercontinental Exchange (NYSE:ICE) Releases Earnings Results, Meets Expectations

Intercontinental Exchange (NYSE:ICE) issued its earnings results on Thursday. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48, Briefing.com reports. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis.

Intercontinental Exchange Stock Performance

ICE traded up $3.96 during trading on Friday, reaching $130.50. 3,991,238 shares of the company were exchanged, compared to its average volume of 2,404,087. The stock has a market cap of $74.73 billion, a P/E ratio of 29.93, a PEG ratio of 2.08 and a beta of 1.02. The firm has a 50 day moving average of $135.01 and a 200 day moving average of $125.81. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a $0.45 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. Intercontinental Exchange’s payout ratio is currently 41.28%.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock worth $21,499,127 in the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ICE shares. Barclays decreased their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. Citigroup upped their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. UBS Group upped their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.92.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.